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Dissolving LLC as of 12/31/2009. What's the definition of "conduct no business" after 1/1/2010?
San Jose, CA
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Posted about 1 month ago in Limited Liability Company (LLC)
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Plan to dissolve LLC 12/31/09. Will file appropriate forms & final tax return timely. Per CA FTB, it's possible to avoid the 2010 California annual LLC tax ($800) if no business is conducted after 1/1/2010... How is "conduct no business" defined? Must checking accounts be closed as of 12/31 2009? Specific question: My CPA will send a bill in early 2010 for preparation of the 2009 (final) tax return. Can I write an LLC check in 2010 to my CPA to pay this bill and still avoid the 2010 CA annual tax $800, or would that be considered "conducting business"?
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Answers (1)
Henry Daniel Lively
This attorney is licensed in California.
Posted about 1 month ago.
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Not conducting business means that the entity has no assets or liabilities, period. Prepay the CPA or pay from your personal account.
Disclaimer - This response does not constitute legal, accounting or other professional advice. Only through a personal, confidential consultation with qualified legal counsel can anyone properly evaluate their own unique legal challenges and determine what, if any, appropriate legal strategies and tactics should be implemented to meet those challenges. Circular 230 Disclaimer - “Nothing in this response is intended or written to be used, and cannot be used by any person for the purpose of avoiding tax penalties regarding any transactions or matters addressed herein. You should always seek advice from independent tax advisers regarding the same. |
